I'm optimistic about the outlook for the global economy. I think that world GDP growth could increase to 3.5% in 2025 and 4.0% in 2026. The International Monetary Fund (IMF) estimates that global GDP will grow by only 3.0% in 2024. We can do better than that in the future.

Here are five reasons why I'm so bullish.

(1) Inflation is going down everywhere as post-Covid disruptions work their way out of the system. We are entering a global rate-cutting cycle. Cheaper money stimulates risk appetites. Lower mortgage rates will pump up the values of real estate.

(2) Higher wages and the "wealth effect" are lifting consumer spending. Stock markets are higher, homes are more valuable, and people are feeling more expansive.

(3) Labour productivity around the world keeps improving. Technology is being applied to make people work smarter. AI tools will accelerate this process.

(4) Manufacturing is booming, as industrialists recognise that post-pandemic demand is back. This is mostly happening outside of China, which makes a nice change.

(5) Tourism is booming, and other forms of entertainment, like sports and streaming media are very popular. This sector of the global economy can only grow.

You may be wondering why I'm not acknowledging wars, natural disasters and bad actors (dictators, terrorists and sh1tty politicians). That's because those things are transitory. Conflicts are likely to resolve themselves, or go away. Awful ideologues and insufferable narcissists get old and die.

Humanity has higher standards these days, and peace and progress are the most widely-desired outcomes. In conclusion: stay fully invested.

A bill is being considered in California which gives employees the "right to disconnect". It aims to fine employers up to $100 per incident via the Department of Labour if after-work communications are sent or requested. It seems like the general time frames will revolve around a 9am to 5pm day.

I find this quite ridiculous. Hybrid work has created flexibility and freedoms that employees 20 years ago could only dream of. In my personal life, to be able to work at all hours gives me so much more flexibility with my time. I couldn't bear the thought of having to wake up and do the heavy morning exercise and school rush routine with an inbox full of pending tasks.

The irony here is that so much innovation and progress has come out of California. This backward way of thinking is probably a result of all its successes. Politicians should not be meddling with such matters, creating more red tape and friction for progress. No wonder so many companies are leaving the US west coast for more business-friendly states like Texas and Florida.

Earlier this week, a report was published on the economic value created by F1's inaugural race in Las Vegas. Despite the race taking place in the early hours of the morning, and some negative publicity about the disruptions to the city, the race seems to have been an economic success. The highlights include:

(1) The total economic impact has been measured at $1.5 billion, including visitor spending of $884 million. (2) The race generated $77 million in tax revenue - more than any other event in Las Vegas history. (3) Local workers earned $52 million in wages. (4) The event created 7 300 jobs, including 2 200 for race-related construction projects and 5 100 for event operations.

Given these numbers, I wonder if the South African government would be willing to support a bid to bring back F1 to Kyalami? The prices at the Vegas F1 event were insanely high, and a local race wouldn't generate nearly as much money. For example, entry-level tickets cost $975 and fancy cocktails were $135 each.

Having said that, just swap the $ for an R and the numbers still look good. If a local F1 race generated R1.5 billion in economic activity and paid out R52 million in wages, the event would be considered a win.

You can read more about the Vegas report - here.

In the late 1990s, GE was the biggest company in the world. Jack Welch, CEO back then, was a business hero, but as time has gone on, many consider his strategies very problematic - General Electric completes split into 3 public companies.

Costco's healthcare partner will offer weight-loss services. It includes access to nutrition and exercise programs, but also medication if needed - Costco is now prescribing Ozempic and Wegovy.

Markets in Japan, Australia and South Korea are up this morning. Japan's Topix is on track for its best day in two weeks. Hong Kong and mainland China are closed for their Qingming Festival, a celebration of spring.

Taiwan Semiconductor restarted production after yesterday's deadly earthquake in Taiwan. That's great news, confirming that there will be minimal disruption to the globe's computer chip supply chain.

US equity futures are pointing towards a modestly positive open later today. The US Dollar has softened overnight due to the prospect of lower US interest rates. The Rand is currently trading at $/R18.68.

Joburg is set to be chilly and rainy till Monday next week. What is this? Cape Town? The rain is very welcome.